July 20, 2012
A request for aid from Spain's Valencia region is deepening concerns over Europe and the risk of new bailouts still to come. The Dow sank 0.9 percent to 12,882 while the euro lost 1.0 percent to $1.2164. Demand for Treasuries is up with the 10-year yield down 5 basis points to 1.46 percent. Oil, in the $91.50 area, slipped only slightly while gold firmed slightly to $1,585.